View more on these topics

IMF: Greece needs €50bn to stabilise finances

Greece-Greek-Flag-700x450.jpg

Greece needs a staggering €50bn (£35bn) over the next three years to stabilise its finances under existing bailout plans, the International Monetary Fund says.

The IMF has also slashed its forecast for Greek economic growth from 2.5 per cent to zero and repeated warnings the country needs extended repayment periods and lower interest rates in order to cope with its debts, the BBC reports.

The report has been published ahead of a vote on Sunday on the bailout terms presented to the embattled nation.

The European Commission has set out proposals for the Greek government to raise taxes and cut welfare spending to meet its debt obligations.

Greek prime minister Alex Tsipras has called on Greeks to reject the creditors’ plans and claims doing so will lead to a “better agreement”.

Recommended

Finding value in UK equities

By Mark Martin, Investment Director & Head of UK Equities Register for a live update on 9 July at 14.30 with Mark Martin, who will be discussing Chancellor George Osborne’s ‘emergency’ summer budget, the UK equity landscape post May’s General Election and his outlook for the second half of 2015. Mark will also highlight the […]

CBI names new director-general

Former BBC director of strategy Carolyn Fairbairn is to replace John Cridland as director-general of the Confederation of British Industry. Cridland announced he was stepping down in March, after five years in the role and over 30 years at the organisation. Fairbairn was previously director of strategy at both the BBC and ITV and holds […]

Wells Street Journal: Zurich vibrates to Selby’s tune

Hollywood celebrities soon grow used to stalkers; over-enthusiastic fans come with the territory. Some go a stage further – note movie star Nicolas Cage’s marriage to married Alice Kim, a waitress who waited on him at his favorite sushi restaurant, after a string of failed romances with fellow celebrities. The relationship between Money Marketing hack […]

George-Osborne-sips-from-coffee-cup-700.jpg
2

Medical underwriter eyes secondary annuities market

Medical underwriting specialist MorganAsh is planning to set itself up as a middle man for the secondary annuity market. It is aiming to act as a first port of call for annuitants looking to sell their policies to the highest bidder, providing medical underwriting, checks on the annuity and on spouses, as well as delivering […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Julian Stevens 5th July 2015 at 6:00 am

    If the Greek people reject the EU’s proposals, the country will receive no more money. It’s as simple as that isn’t it?

Leave a comment